Thursday, March 30, 2023

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Sri Lanka Original Narrative Summary: 17/03

  1. Increase of Central Bank holdings of Treasury Bills (money printing) under Governor Weerasinghe registers a massive Rs.995 bn in 11 months: up from Rs.1,730 bn on 5Apr22 to Rs.2,725 bn by 15Mar23: a staggering Rs.121 bn “printed” on 15Mar23 alone.
  2. Several Tamil politicians and civil society representatives seek audience with the Mahanayake Theras on the full implementation of the 13th Amendment: group to be led by TMTK MP C V Wigneswaran.
  3. Govt Printer Gangani Liyanage says the printing of ballot papers for the postal voting of the upcoming LG election is stopped as required funds are yet to be received from the Treasury: says she intends to inform this in writing to the Elections Commission.
  4. LKR dips further from 344.68 to 346.33 against the USD: so far, the LKR has plummeted by Rs.20.81 (6.4%) in just 6 days in spite of CB Governor Weerasinghe’s remarks that the LKR will strengthen: “grey market” quotes LKR at over Rs.375.00 per USD: many analysts expect the LKR to weaken further.
  5. GMOA Secretary Dr Haritha Aluthge says the GMOA has received a letter from the Presidential Secretariat that the President will present the Personal Income Tax proposals by Trade Unions to the IMF at the 1st review of the EFF.
  6. Western Province Senior Deputy Inspector General Deshabandu Tennakoon to be appointed as the 36th Inspector General of Police: current IGP C D Wickramaratne due to retire on 25th March.
  7. National Institute of Mental Health Director Dr Rohan Ratnayake says a suicide takes place in Sri Lanka once every 4 hours: also says 2,833 men & 574 women committed suicide in 2022: further says the number of suicides amongst apparel factory employees has increased.
  8. SLPP rebel MP and former SEC Chairman Dr Nalaka Godahewa says the week long appreciation of the LKR was a “joke”: queries how a bankrupt country which is in a serious contraction could have a currency that is appreciating.
  9. CB Governor Nandalal Weerasinghe rejects appeal by Vehicle Importers Association to grant permission to resume vehicle imports: vehicle imports have been restricted since March 2020 due to the forex shortage, but the CB Governor has claimed recently that large amounts of Forex has been received by the Central Bank.
  10. Sri Lanka suspended from voting during FIFA elections when nearly 2,000 delegates including top football executives from the world football governing body met in Kigali for the long-awaited 73rd FIFA Congress.

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